8 hours agoBEC: Kosovars received 768.9m euros more credit than last year
Periskopi(a year ago)
(a year ago)Central Bank of the Republic of Kosovo Governor Ahmet Ismaili has held the traditional press end-of-year conference, where he announced that 2024 would end with a 4.3 per cent economic growth. And, as the governor revealed, apparent growth has marked loans, which have increased 15.7 percent [...]
And as the governor revealed, apparent growth has marked loans, which have increased 15.7 percent compared to last year. In all, loans in November 2024 have reached 5.668 billion euros, registering an increase of 768.9m euros compared to December 2023.
In terms of inflation, Ismaili stressed that the average rate for this year was 1.6%, a level expected to be maintained during 2025. Likewise, remittances, which make up an important source for the country's economy, have reached 1.1 billion euros by October and are expected to end the year at 1.3 billion euros.
“Eonomia is expected to close with an increase of 4.3% for 2017. Until September, an increase of 4.6%” has been reached.
The average inflation gap in Kosovo reached 1.7% in November, and expectations are for inflation to close to 1.6%, as expected to be in 2025”.
The “remittances have reached 1.1 billion euros by October, and we expect to close to 1.3 billion euros. This was the first year with visa liberalisation, and that's why we've been waiting for such an event”.
Another important development is increased foreign direct investments, Ismaili stressed, which have reached 657m euros. This positive trend, according to the CEC's expectations, will continue during 2025 and 2026.
Foreign direct investment has reached 657m euros, which shows an increase, and we expect this increase to continue even in 2025-2026. Export services continue with a positive”.
Meanwhile, financial sector assets, without including the CEC, have reached 12.2 billion euros, while the total -- including the CEC -- is 14.2 billion euros.
The financial sector's “Assets have reached 12.2 billion euros without including the CEC, while 14.2 billion euros, including BQC”, has disclosed Ismaili, reports EO.
While talking about loans, Ismaili announced that they have scored a 15.7% increase compared to last year.
Everything, loans in November 2024 have reached 5.668 billion euros, marking an increase of 768.9m euros or 15.7% compared to December 2023. Meanwhile, deposits continue to be the main source of credit financing. In all, deposits in November of this year have reached 6,586 billion euros, marking an increase of 448.5m euros, or 7.3% compared to December 2023. This increase is attributed to increased interest rates in deposits and more intense competition among banks for attracting depositors,”, he said.
The average interest rate in credit in the banking sector in November 2024 was 6.02%, while in December 2023 the rate was 6.35%. The average interest rate in deposits in the banking sector in November 2024 was 2.87%, the governor concluded. / EO
